U.S. Oil Futures Rise to a 14-Month High

U.S. Oil Narrowed the Price Gap with Europe's Brent Crude

By

Jerry A. DiColo and

Sarah Jacob

July 2, 2013 7:40 p.m. ET

U.S. oil futures rose to a 14-month high Tuesday, nearing $100 a barrel as domestic prices reconnect to the world market.

Light, sweet West Texas Intermediate crude-oil futures for August delivery settled 1.6% higher at $99.60 a barrel on the New York Mercantile Exchange, narrowing the price gap with Europe's Brent crude to under $5 a barrel...